Affording Private Education

When it comes to attending a private school, perhaps the most frequently asked question I receive is, “How much does it cost?” I may speak eloquently about the inestimable value of classical, Christian education, and a parent may be thoroughly convinced that this is the place that will most allow their child to flourish, but lurking in the back of the mind is the nagging question, “But how can I afford this?” Of course, the reverse is also true: some parents will not even look into a private school because they already think it is unattainable. In this blog post, I would like to suggest 5 ways to help make a private school education attainable for your family.

Begin with Prayer

It sometimes surprises me, though it should not, how often we fail to go to the Lord with our desires and plans. Martin Luther wrote, “as it is the business of tailors to make clothes and cobblers to make shoes, so it is the business of Christians to pray.” When considering a school for your children, the first step should always be prayer.

The Lord will not lead you to where He will not provide. James reminds us that we must go to the Lord in prayer for all things: “You do not have, because you do not ask. You ask and do not receive, because you ask wrongly, to spend it on your passions” (James 4:2-3). You cannot underestimate this crucial step in seeking the best education for your children. Pray fervently and constantly for the Lord to guide you in this decision, and for provision.

Plan Early, Plan Often

As you pray, also plan. It is never too early to begin planning for the future. I have given tours to parents of three-year-olds, and I applaud them. Even if you are only at the very beginning of thinking about private school for your children, start planning now as if they were attending. You will never regret saving money.

Even a simple savings account that is dedicated to “education” is a way to begin. Or you may consider an Education Savings Account (ESA) for added tax breaks. Most banks have an ESA option, but there are restrictions on the amount that can be contributed or withdrawn. Either way, the sooner you begin, the better.

Develop a Family Budget

According to a 2013 Gallop poll, only about 32% of American families have and use a budget. Budgets are an essential tool for every family; this cannot be understated. Without a budget, you actually cannot know whether you can afford a private school or not. A budget is what allows you to track your expenses, examine where your money is going, and plan for the future. Without a budget, there is no way to know where you are spending your money or how much you could afford of any given category--including education!

As you plan your budget, you will be able to examine and plan your family priorities. By developing a spending plan you can prioritize what is most important for your family.
And just as important, you can discover what non-essentials can be eliminated. It is no exaggeration to say that some families could afford a private school by simply cutting trips to Starbucks.

The elimination of non-essentials is going to be your starting point for wise spending. And the budget is the tool to help you discover these items. The chances that there are not items in your budget that could be cut is highly unlikely. Eating out, cable bills, expensive vacations, entertainment--these are all ripe for cutting.

If you have never put together a budget, there are many tools available. And as this short article shows you, it is actually not that difficult.

Explore Family Help

One of the ways some families afford private schools is with the aid of grandparents and other close family relatives. I have been humbled by the number of students whose grandparents help in assisting with tuition. Many grandparents are eager to help their grandchildren in any way possible, so asking for tuition assistance in lieu of toys and clothes is an easy decision. Asking other family members for needed expenses (like uniforms, books, etc.) for birthday gifts is another way to shift the burden of certain costs.

If your children are older you can also get them involved in raising the funds. Earning money through chores or part-time jobs is a good way to help them take ownership in their education (because they are helping to pay for it)! One family I know requires their sons to work in the family fireworks tent around the Fourth of July to raise money for tuition. The boys are happy to do the work because they love their school and know that it requires a serious investment from their parents. This also teaches great lessons about responsibility and the value of a dollar.

Consider Financial Aid and Payment Plans

Private schools like Bloomfield Christian School are not ignorant to the economic challenges posed by attending a private school. Many private schools like BCS use the FACTS Grant and Aid Assessment software to help evaluate and determine a financial aid package for your family based on need. Working with the school to make tuition affordable is key to your planning.

Most families cannot afford an entire year’s tuition in one lump sum. FACTS will also allow you to set up a payment plan to reduce the up-front costs of tuition. By spreading the tuition payments out over 10 or so months, you can include the payments as part of your cash-flow calculations in your budget.

If after financial aid and payments plans have been calculated and you are still coming up short, ask about any other scholarships or opportunities to reduce costs. Some schools have unadvertised scholarships available, but you will not know if you do not ask. Be open and honest about your situation and the school will work with you to find a solution.